Akobo Minerals Ab · OSL:AKOBO
Akobo Minerals Ab — Q4 2025 Earnings Presentation
17 slides from Akobo Minerals Ab's earnings presentation, Mar 10, 2026
Slide 1: Fourth quarter 2025 presentation
Fourth quarter 2025 presentation AKOBO MINERALS AB (publ) 10th March 2026 Euronext – AKOBO www.akobominerals.com
Slide 2: Disclaimer
Disclaimer This document has been used during an oral presentation. Therefore, this document is incomplete without the oral explanations, comments and supporting instruments that were submitted during the referred presentation. To the extent permitted by law, no representation or warranty is given,
Slide 3: Latest key information end February
Latest key information end February Strongest quarter ever ▪ Revenues: ~ USD 3.2m ▪ EBITDA: ~ USD 1.4m Q4 production ▪ ~ 21.5 kg ▪ ~ 22.2 g/t Jan – Feb production ~ 80 kg of gold doré produced end February ▪ ~ 15.5 (8 + 7.5) kg ▪ ~ 25.0 g/t Q1 expected to deliver positive operational ▪ ~ USD 2.5m @
Slide 4: Current operations
Current operations Operations and development ▪ Vertical shaft civil works completed ▪ Temporary headgear and winch installed ▪ Shaft sinking activities recommenced Processing optimisation ▪ Tailings Storage Facility construction underway ▪ CIL upgrade initiated to improve recovery Operational momen
Slide 5: Segele high grade operations
Segele high grade operations ▪ Segele grade remains far above industry average, supporting low unit costs and stronger margins ▪ ~ USD 345 million in-situ* value of the Segele resource ~ 69,000 ounces @ USD 5,000/oz ▪ Segele Mineral Resource (SRK, April 2022) • Indicated: 41,000 oz @ 40.6 g/t • Tota
Slide 6: Vertical shaft development
Vertical shaft development ▪ Fully funded and development underway ▪ No major equipment procurement risk ▪ Capacity increase 10 – 20 tpd → 100 – 150 tpd ▪ Designed for up to ~50 kg gold/month ▪ Increased monthly gold sales from ~USD 1 million to ~USD 8 million at full ramp-up capacity (at current go
Slide 7: Vertical shaft timeline
Vertical shaft timeline March – April 2026 ▪ Continued vertical shaft sinking ▪ Progress dependent on ground conditions, rock competence, and encountered mineralised zones May – June 2026 ▪ Completion of shaft sinking and continued installation of key underground infrastructure ▪ Electrical, water a
Slide 8: Latest policy approvals
Latest policy approvals Key milestones and approvals; Offshore account established with Standard Bank and approved by NBE First gold export to LBMA refinery in preparation and approved by NBE FX convertibility in place Strong adherence to IMF and World Bank programmes Mining positioned as a core pil
Slide 9: Financial performance overview
Financial performance overview All figures in mSEK P&L Development Equity & Debt Development 396,1 399,2 29,8 349,8 316,3 22,8 12,9 9,6 6,9 4,5 Q1-25 Q2-25 Q3-25 Q4-25 Q1-25 Q2-25 Q3-25 Q4-25 -3,1 -9,9 -182,3 -192,4 -183,0 -12,7 -157,8 -14,4 -15,9 -16,9 Revenues Op. ex EBITDA Equity Debt ▪ The compa
Slide 10: Development of gold loan and cash flow with increased gold price
Development of gold loan and cash flow with increased gold price Assumptions and rough estimates for pre-tax cash generation FOR ILLUSTRATION ▪ Ounces gold loan 10 000 ▪ Ounces produced 69 000 ▪ Cost assumption of USD 1,500/oz (industry reference level) Illustration ▪ Gold price from USD 3,500/oz to
Slide 11: Corporate structure and top shareholders
Corporate structure and top shareholders Corporate structure and listing Transparent corporate structure Top shareholders ▪ Stock listed on Euronext Growth in Oslo and Rank Shares % Name Frankfurt Stock exchange (ISIN: SE0015193412, 1 20 190 224 8,80 % Bernhd. Brekke A/S ticker: AKOBO). 2 19 915 435
Slide 12: Looking ahead
Looking ahead ▪ Preparation of first gold export ▪ Hiring of senior exploration manager to plan and lead the team towards new discoveries ▪ Completion of the vertical shaft, enabling higher and more stable production 12
Slide 13: Financial update
Financial update 13 &) AKOBOMINERALS
Slide 14: Income statement – Group
Income statement – Group Comments to figures • SEK 29.8 million gold doré production • SEK 3.8 million in other expenses mainly relate to consulting services such as accounting, auditing and legal both in Norway and Sweden, including SEK 0.9 million legal expenses related to EIH share issue • SEK 6.
Slide 15: Balance sheet – Group
Balance sheet – Group Comments to figures • Fixed assets are capitalised exploration costs and local mining equipment in Ethiopia • Long term debt is the 9,240 ounces gold loan from Monetary Metals • Convertible loans have been converted in Q4 15
Slide 16: Cash flow – Group
Cash flow – Group Comments to figures • Cash flow from operating activities relates to all entities • Cash flow from investing activities relates only to operational activities capitalised in Ethiopia 16
Slide 17: Q&A
Q&A 17 17